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Messages - Mrrr

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General Discussion / Re: My friends, gather closely.
« on: July 18, 2014, 04:32:18 am »
In order to grow, business owners typically hold strong to their shares as much as possible and pump the services, capabilities and products of their business.

If crypto "currency" were actually valuable because of the service it performs, then we wouldn't need to give away ownership.

The mining subsidy of bitcoin isn't directly felt due to the non-linear increase in demand versus the rather linear increase in supply. Combined with the enormous network effect, you have a problem that consumers will typically stay with the sub-optimal standard. Asking people to migrate to a better standard when the old one is still making them money and sufficient for the needs of value transactions is a tough nut to crack. One can say hey we are better for the following reasons (I think apple did it best ->, but ultimately, consumers are lazy.

Getting people to do something new usually requires a hook of some kind. With proof of stake, you have to premine the supply. So why not just distribute amongst a basket of currencies and use it as a hook? If the coin starts to get market value, then people have a stake in protecting it and will naturally become surrogates. The keys are properly engineering the basket, the value bootstrap and consistent release cycles. The Nxt team got two of the three right, but succumbed to greed for the distribution. Ironically, if they had simply given the coin away via a snapshot distribution and bought up cheap coins during the initial launch, then they probably would have had similarly sized stakes without any fairness fallout. This action would have also created the perception of demand for Nxt, combined with clever marketing, could have made it a legitimate contender to replace bitcoin (and why not, roger will still have a lot of Nxt).

The whole thing really just seems like a wasted opportunity to me. 

I have yet to come up with a reply towards mr. Hoskinson's sharp observations. I'd like to point out however, that a community that is still fapping to Gisele Bundchen in an Apple commercial is a long way from attaining public acceptance.

General Discussion / Re: # of trolls – a good or a bad sign.
« on: June 24, 2014, 01:49:13 am »
>>Only the psychological reaction of the Chinese has me curious.

he white man has trouble understanding the Chinese way of thinking…hell he hardly understands mine, and I am almost white :)

Judging from the post count the chinese boards are bulging with opinions though. Perhaps a liason who speaks both languages and knows both worlds would be a good one. Someone who makes some cross posts between both boards, someone who could tell me what they are talking about, and tell them what I am talking about. Bounty worthy IMHO.

General Discussion / Re: Dry Run 5: The Final Countdown
« on: June 23, 2014, 10:12:19 pm »
Isn't this supposed to be the part where the Empire strikes back? And dry run 6 the part where BM returns all Zen from Dagobah and sorts out DPOS? Anyways, good luck with testing. Its not an excuse I know but I lack the technical skills to participate :) Godspeed.

General Discussion / Re: Economics of ASIC mining part VII
« on: June 23, 2014, 09:15:37 pm »
well i have been thinking about NEM...I think that if you are onto Nxt, NEM is a good diversification. I have personally split my small NXT holdings between NEM and NXT now...

I believe that NEM will reach 1/2 market cap of NXT once it is out there...So Assuming NXT remains stable @ $70 mil I estimate NEM to reach at least $30 mil.

21k Nxt @ 1 stake= $1,470 = 1,000,000 NEM coins ==> NEM market cap $5,880,000

What I am afraid is that both NXT and NEM fail eventually and crash because devs might cash out in the next bitcoin run. Or both crashes because bitcoin crashes..

That is why I trust more I3 DACs that are made to make profits for the shareholders instead of speculating on simple coins that depend purely on what the major stakeholders will do..

I'm a bit worried about the NXT state of mind though. Say 'greedy' and I say MSC, say 'greedy' again and I'll say NXT. NXT will, in the long run, not make it because of the larger part of the 73 always hoping for even more money.

NEM will fix that, BTS will fix that, other coins will fix that.

Since, as the original OP stated, mining is indeed inherently flawed and we are already experiencing the first effects of that flaw, BTC will eventually adapt or be overtaken. I hope it won't be NXT, NTX, NFD, NEM, BTS or QORA. I hope we are still at the very beginning :)

call me crazy, but for some reason I can't really explain my gut told me to pick up a hundred swarm shares just in case, in spite of the fact that all logic makes this look like a scam. so i did. *fingers crossed*

Did the same thing. After the "I crowdfunded Oculus Rift and all I got was this lousy T-shirt" this could perhaps be a thing. I kissed my investment goodbye and expect nothing at all though. Bought the shares only as a means to insure myself against possible success.

General Discussion / Re: Economics of ASIC mining part VII
« on: June 23, 2014, 06:11:49 pm »
So you survived UF departure...

Heh. Nice catch. Yes I did. So did everyone else it seems. Was a Lewinksy rather than a Watergate :) Still a back stab of course, and I didn't see it coming, sorry for that. But on the upside: yes I did rally for UF, and everyone who bought a NEM stake after that is now ~40% up. Scandal or no scandal. Hope st. Peter got the AE bookmarked.

Any OT comments? :)

General Discussion / NEM part VII
« on: June 23, 2014, 05:34:44 pm »
Ok ok you guys win. Any thoughts? :)

Yet the guy got robbed completely empty and he reimburses the community fund without a blink.

+1 karma

I'm going to post a comment here that is perhaps not entirely OT.

According to Bytemaster the act of moving funds around is beneficial to the network.

The "silent long term holders, who might not have the technical knowledge, time, or interest to continually remember to shuffle around shares in various DACs" are exactly the people that should be negatively incentived to actively care for the network, rather than sit on their money and passively watch it grow.

Keyhotee (afaik) is a possible solution for the myriad of online holdings one will acquire over the years.

Up the inactivity fee to 50% for all I care.

Thomas Piketty anyone? :)

This is the ideal tool for any bitcoin related (press) conference:

The Bitcoin Bullshit Generator!

"Well, what if we were to implement colored seed nodes that morph single-transaction escrows into an integrated value-forecasted protocol of instant-confirmation signatures?, that would do the trick, wouldn't it?'. 

Total confusion guaranteed :)


And he i.e ‘utopianWhatever’ listed all those shares just as an estimate how many people would like to do that and/or sell their stake?

Wish somebody have listed AGS the same way and offered ‘simulated tradability” for the AGS shares… :)

Utopianfuture (REMBER THAT NAME!) listened to a request from the community: to have stakes tradable before release. So that any dumpers could cash out and any interested people could get in even after registrations closed.
He then gave the option for stakes be traded on the NXT AE, on MSC and on Counterparty. With a minimum of 100 people interested in any of the above listed before he'd enable trading. NXT AE was the winner.

The 1000 tokens were his estimate of how much would be needed to satisfy the communities' request. As of now 400 or so have been transferred so it seems he was ok with that estimate.

AGS could be listed in the same fashion on both Counterparty or the NXT Asset exchange. But asking I3 to allow that is probably like asking the Pope for permission to shoot a porn gig inside the Sistine Chapel.

Very easy. There are ca. 3000 bitcointalk accounts on the NEM stakeholders list. Anyone of those can send a PM to utopianfuture requesting their stake to be listed. Utopianfuture created an asset on the NEM Asset Exchange, called NEM. You PM him with your NXT address, and utopianfuture will send you a NEM asset (a token for your NEM stake). Once NEM launches you can send this token back to utopianfuture to claim your coins. You can keep the token in in your next wallet or you can trade it on the exchange.

EDIT: utopianfuture created 1000 NEM assets, any stakeholder can get one while stocks last.

.... That was until the day NEM listed on the Nxt Asset Exchange. I'm looking at 1500$ for posting 'interested' on page 17 of a thread on a dodgy internet forum. Talk about ROI :)

Anyways. I'm in the process of listing my stake on the NXT asset exchange for security reasons (I'm not trusting theymos with my 1500$) ...

I am not familiar with this NEM business… If I buy your stake on the exchange what assurance do I get that I will receive my actual NEM?
Do not get me wrong - I like your picture on this forum , it screams ‘dependable and trustworthy,’ but is  that all I have to rely on, or is there other mechanism to help me sleep till I actually get the stake?

Thank you. I'm currently working with my associates Trendon Shavers and Brock Pierce on a bitcoin project that will change the world as we know it. Its called Mt. Wrox and we have early bird investment opportunities through a BTC address announced shortly.

If you are a participant in the New Economy Movement your only method of identification is the forum account that was used to show your interest. This means that theymos (owner of bitcointalk) is essentially in control of 6 million worth of NEM as it stands now.

If you transfer your stake to the NXT asset exchange it is protected by a random 12 word password. But is is still an IOU, since NEM is in pre-alpha. Utopianfuture promises to redeem NEM asset exchange stakes in the same fashion as he will redeem BTC talk accounts who are on the stakeholder list. Once you buy a stake, you buy an IOU by the NEM team. The NXT exchange is like Counterparty.

Difference is that now I got an IOU from NEM lead dev rather than from theymos. Plus, BTCtalk has been hacked before, and the NTX exchange is far more hack proof.

And recall, NEM did not come out of nowhere, it reached escape velocity from a cesspool of NXT clones where evolution accelerated to a high pitch. x)

That was what I was trying to explain :) Thanks :) NEM was the only one out of 167 that I deemed worthy of my 'interested' post :)

I can concur. The price before the listing on the NXT asset exchange was around 0.5BTC (this would mean the stakeholder selling his forum account). Price seems stable between 2-3 BTC for two weeks now.

Its still vapourware of course. But you have to consider that the development team is shaping up, and their PR is amazing. And apart from some loose change in fees all the devs have is the developers stake in a yet to be born crypto, which motivates.

NEM was born when the first boobytrapped NXT source code was released (february somewhere). You had around 20 (some scammy scammy) NXT forks on the boards. Utopianfuture was behind one of them and got good response by the community because of the egalitarian distribution thing. NEM (and NAS) were the only ones to pull through. Utopianfuture shaped up, got a development team together from people that contributed to NXT, started from scratch, and went for it.

I used to be envious at the 73 that were in the original NXT IPO. That was until the day NEM listed on the Nxt Asset Exchange. I'm looking at 1500$ for posting 'interested' on page 17 of a thread on a dodgy internet forum. Talk about ROI :)

Anyways. I'm in the process of listing my stake on the NXT asset exchange for security reasons (I'm not trusting theymos with my 1500$) and in order to do so I needed a NXT wallet.

I downloaded this:

Regardless of what you think of NXT, the above wallet has functionality, ease of use, eye-candy, and a built-in decentralized exchange. It is perhaps the first wallet to come out of crypto that looks like a commercial product. Bytemaster if you are reading this: the stakes have been raised :)

[edited for edits]

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